JUST IN: Senate Receives Revised 2020 Budget

Ahmed Lawan
Ahmed Lawan

The Nigerian Senate has received the revised 2020 budget of N10.52 trillion. Senate President Ahmad Lawan confirmed this development during plenary on Thursday.

Lawan read a letter from President Muhammadu Buhari informing the lawmakers of the revised budget on the floor of the upper legislative chamber.

Also Read: 2020 Budget: Buhari Seeks Senate Approval For Fresh N850bn Loan

President Muhammadu Buhari had assented to N10.59 trillion as the budget for 2020 in December.

The dwindling oil prices due to the Coronavirus outbreak led the 2020 budget to be reviewed downwards to N10.276 trillion.

However, the federal executive council (FEC) increased the budget to N10.52 trillion by N318 billion after oil prices appreciated.

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